redeem

Concise Oxford English Dictionary © 2008 Oxford University Press:
redeem/rɪˈdiːm/

▶verb

• 1 compensate for the faults or bad aspects of.

  ■ (redeem oneself) make up for one's poor past performance or behaviour.

  ■ save from sin, error, or evil.

• 2 gain or regain possession of (something) in exchange for payment.

  ■ Finance repay (a stock, bond, etc.) at the maturity date.

  ■ exchange (a coupon) for goods or money.

  ■ clear (a debt).

• 3 fulfil (a pledge or promise).

• 4 archaic buy the freedom of.

– derivatives
redeemable adjective,
redeeming adjective.

– origin ME: from OFr. redimer or L. redimere, from re- ‘back’ + emere ‘buy’.